mHealth Ecosystem Market is Projected to Grow at A CAGR of 34.7% During, 2020-2026

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OVERVIEW

mHealth Ecosystem Market was valued at $49.7 billion in 2019 with a CAGR of 34.7% from 2020 to 2026.

mHealth is used for the practice of medicine and healthcare services through mobile devices. mHealth applications are used for providing healthcare information to healthcare professionals, researchers, and patients, collection of clinical data, and provide real-time monitoring of patient vital signs and direct provision of care.

Increasing regulatory approval for mHealth solutions is booting the global mHealth ecosystem market. For instance, The US Food and Drug Administration has approved reSET-O, a mHealth app developed by Pear Therapeutics that offers a 12- week treatment plan that delivers cognitive behavioral therapy and fluency training to reinforce proficiency. The digital health platform is available to providers as a prescription-based digital therapeutic alongside the standard of care for OUD treatment. Additionally, the US Food and Drug Administration has approved EndeavorRx, a connected health treatment that uses video game technology for attention function in children with attention-deficit/hyperactivity disorder (ADHD). The platform was developed by Boston-based Akili Interactive and is available by prescription. Further, the rising penetration of smartphones, tablets, and other mobile platform is a key driving factor of the market.

Disease & Treatment Management, Wellness Management, and Others is the healthcare app segment of the market scope. By connected medical devices, the market is divided into Glucose & Blood Pressure Monitor, Pulse Oximeter, Peak Flow Meter, and Others. The report covers value of the global market by healthcare app and connected medical devices.

Disease & Treatment Management had shown significant growth in 2019, owing to the rising penetration of smartphones and healthcare apps for disease & treatment management and the increasing focus on self-health management and prevention measures among patients across the globe. Moreover, the increasing advancement in healthcare apps has raised the demand for mHealth ecosystem.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global mHealth ecosystem value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the global mHealth ecosystem market in 2019, due to the high penetration of mobile platforms, increasing use of connected devices & mHealth apps for the management of chronic diseases, development & adoption of innovative mHealth technologies, and increasing regulatory approval for mHealth ecosystem.

Major players operating in the mHealth ecosystem industry include Medtronic PLC, GE Healthcare, Abbott Laboratories, Koninklijke Philips N.V., Cisco Systems, Inc., AliveCor, Inc, iHealth Lab, Inc., BioTelemetry, Inc., AirStrip Technologies, AT&T, Inc., Athenahealth, Inc., AgaMatrix, Inc., Withings S.A., Johnson & Johnson, and Apple, Inc.

Increasing commercialization of mobile health platform, increasing regulatory approval for mHealth Ecosystem, rising investment in developing of mHealth platform, and partnership between companies to jointly develop mobile health platform are some of the strategies adopted by the major companies.